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First Division Ventures Inc.
Summary
| Project: | FLV | |
|---|---|---|
| Deposit: | FLV | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 10/31/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 31-10-2018: First Division Ventures Inc. announces a Supporting Acquisition report for its FLV deposit at the FLV project. Amended Summary of property in support of option agreement. First Division Ventures has an option to acquire, with cash and stock pa | |
| Resources: | x | |
| CP/QP: | [Overall Report]: William Feyerabend (Independent) | |
| ABSTRACT: | First Division Ventures has an option to acquire, with cash and stock payments and a staged work commitment, a 50% interest in eighty one (81) lode mining claims totaling approximately 1620 acres in Esmeralda County, Nevada USA. Between the Project and Clayton Valley, generally 25 miles to the east, exploration since 2010 has found sites with very anomalous lithium values (>100 ppm) in Tertiary claystones where there are indications the lithium can be recovered under simple metallurgical conditions. Mapping and sampling shows very anomalous lithium occurs in correlative units on the Property. The FLV claims cover an outcrop area of Tertiary age sediments on the northeastern flank of Fish Lake Valley where initial sampling found values to 600 ppm lithium in claystones. Since acquisition, First Division exploration expenditures to date total over CAD152,020.90 for mapping, sampling and CSAMT/MT geophysical survey traverses along an existing access road. Sampling confirmed the anomalous lithium values. The geophysical survey showed a subsurface response consistent with the exploration concept of Tertiary claystones which may host geochemically anomalous concentrations of lithium of potential economic interest. A direct cost budget of $US 90,000 detailed under ‘RECOMMENDATIONS’ is proposed to drill test that target. The budgeted program will be successful if drilling penetrates interval(s) of Tertiary claystones with a thickness and lithium content to be of potential economic interest. Further work depends upon the results of the proposed program and would fall under a separate budget. | |
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